How Data Analytics is Game Changer for Telecom Industry?
Data Analytics is widely used on a very larger scale in telecom Sector. The rapid rise in the use of smartphones and growth in internet is creating exceptional amounts of data sources including, device data, customer data, network data, location data, etc. Mobile technology is fast evolving, and this has created an abundant choice for consumers. Technology advancement has induced a paradigm shift in consumer lifestyle and attitude towards technology. Data Analytics enables one to relate to the customers, understand their needs, provide what they want and ensure their customers are delighted and become loyal.
Data Analytics has the potential to place the telecom companies in a position to offer the best services to earn more customers and create new revenue streams. According to the Global telecommunications study: navigating the road to 2020, “Improve big data & analytics capabilities” was rated number four, with nearly 40% of respondents selecting it as a priority when they were asked how they are going to boost their organizational agility.
Benefits of Data Analytics in Telecom Industry:
Improve customer experience and service quality: Data Analytics solutions help telecom operators to turn structured and unstructured data into actionable customer insights, which helps them to improve customer experience. Data Analytics also help operators to optimize call routing and quality of accommodation by analyzing their network traffic with Real-Time CDR (call drop rate) Analysis.
Reducing Fraud: Telecom fraud is a major part of the loss of revenue in the telecom industry. To tackle this problem, telecoms use fraud detection systems that are predicated on data mining algorithms to tag fraudulent customers and suspicious deportment in virtually real-time. Data analytics are additionally utilized for detecting fraudulent claims by claims processing teams, identifying unauthorized devices, tracking payment processing and customer data protection.
Churn Prevention: Customer retention is one of the most critical challenges, which telecom operators face. As acquiring a new customer is more sumptuous than retaining the old one, so churn prediction is one of the most consequential priorities for operators. Predictive Analytics uses the collected customer data like, complaints, customer transactions, etc to have better customer insights, which help operators to accurately identify customers who are likely to leave.
How Sankhyana Consultancy Services help Telecoms to adopt Data Analytics?
- Consumer Behaviour Scores for Churn analytics
Primary sim user analysis to ascertain the Consumer Behaviour Scores which enables comparison across competitors’ primary sim users and devises appropriate promotional strategies for each cluster of customers; Performs the same analysis with customers using Primary and Secondary sim with one of them being the competitors’ sim.
- Technographic Segmentation & profiling
Technographic segmentation is a powerful tool for segmenting and profiling customers based on their attitude towards technology, owning the right technology & usage of technology. Our Analytics team shares expertise in Technographic segmentation & profiling of customers. Technographic segmented clusters are more action-oriented and hence forms the basis for devising all operational strategies for special offers and seasonal offers, etc.,
- Identifying Opportunity Clusters for Product Targeting
Opportunity clusters form positional segments and are used for all positional strategies such as brand promotion, the launch of a new plan, etc., These segments are formed based on customers’ emotional attachment towards the service providers and their attitude towards technology & lifestyle
- Additional Analytical Insights
- Our analytics team can also cater to the following services
- A deeper understanding of consumer behavior, attitudes, and perceptions
- Customer Satisfaction study
- Brand Awareness Study
The rapid use and demand of Data Analytics in the Telecom industry are creating immense opportunities for data analysts, data engineers, etc. professionals. The data analytics course with an authorized training institute is very helpful for aspirants to grab a job in this field.
Sankhyana Consultancy Services (SAS Authorized Training Partner) is a premium SAS Data Analytics training institute in India providing real-time job-oriented training with 360-degree placement support for aspirants. Our SAS Data Analytics course provides great insight to use the data in telecom. For more details, visit us: https://sankhyana.com/training/in-house-training, https://sankhyana.com/training/live-web-training
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